BoE’s Broadbent says UK economy looks likely to slow in fourth quarter: CNBC

LONDON (Reuters) – Bank of England Deputy Governor Ben Broadbent said on Monday it looked likely that Britain’s economy would slow somewhat in the fourth quarter, but that he continued to see signs of pay pressure building gradually.

“The signs are we’ll have somewhat weaker growth in the fourth quarter,” Broadbent said in an interview with CNBC.

Broadbent said the BoE had seen signs of pay pressure strengthening in business surveys as well as in the official data.

The BoE’s guidance for “limited and gradual” rate increases did not necessarily equate to one hike a year, Broadbent said, adding that the main message for households and businesses was simply that rates are unlikely to rise sharply.

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